Description: Our current financial crisis has wreaked havoc on the credit markets, the stock market and the entire economy. We must remember that the root cause of this crisis is the collapse of the residential housing market, which has been further exacerbated by the continuing downward housing spiral.

Description: This article is a book review of “Group Benefits in a Changing Society, “by Bruce F. Spencer. The author of this article notes that few textbooks have been available to the group insurance consultant which provide an up-to-date survey of the design and direction of employee benefit programs. In his review, he notes that Mr. Spencer, associate editor of Employee Benefit Plan Review, has attempted a formidable task, with the result being only partially successful. The review points out both the strengths and weaknesses of the book.

Description: The new ways of calculating capital requirements are relatively untested. We may be witnessing the results of such a test today. As of this writing, the global economy is almost surely entering a serious recession. One of the reasons for this appears to be inadequate capital provisioning. The failure of capital regimes to protect financial entities and, by extension, their customers has had unfortunate effects on the markets and economies of the world.

Description: Many call this the sub-prime crisis, but risky mortgages were simply symptomatic of the underlying excesses building through the financial system. Investors, government, lenders and borrowers were all at fault. Where did the skeptics go?

Description: August 2012 issue of (RL) Asset/Liability Watch

Description: September issue of RL Asset Liability Watch, September 2012

Description: This presentation uses the value-based asset liability management framework to compare the risk-adjusted value of the benefits payable to each cohort.

Description: The system of using securities exchanges and commodity futures contract exchanges is inadequate to the task. Neither can transfer the risks of derivative financial contracts to the capital markets. Regardless of the degree of regulation or the financial incentives, this system is insufficient. A new type of exchange is needed that copes with fast price changes – even from “long” to “short” – without inviting bankruptcy.

Description: This article announces the selection of a research team for a new catastophic health claims database project initiated by the Health Section and the Society of Actuaries. This articles gives a brief description of the project.

Description: This article provides an overview of behavioral economic theory as it relates to health and welfare insurance plans and provides summaries of two sample applications of the theories: enrollment in health insurance exchanges created by the Patient Protection and Affordable Care Act, and product design considerations in light of vast health illiteracy.